Directors & Management

Management Team Independent Directors

Management Team

Paddy Dear

Principal of Tetragon Financial Management LP
Director of Tetragon Financial Group Limited and Tetragon Financial Group Master Fund Limited

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Mr. Dear co-founded Polygon in 2002 and Tetragon Financial Management LP in 2005. He was previously managing director and the global head of Hedge Fund Coverage for UBS Warburg Equities. As global head of Hedge Fund Coverage and Chairman of the Global Hedge Fund Committee, Mr. Dear was responsible for the delivery of all of the bank's products and services to hedge fund clients globally. He was on the board of UBS Netherlands, and was a member of both the European Equity Business Committee and the Extended Global Equity Business Committee. Prior to this, Mr. Dear was co-head of European sales trading, execution, arbitrage sales and flow derivatives. He had been with UBS since 1988, including six years in New York. Mr. Dear was in equity sales at Prudential Bache before joining UBS. Prior to working in investment banking, he was a petroleum engineer with Marathon Oil Co. Mr. Dear holds an undergraduate degree in Petroleum Engineering from Imperial College in London. His responsibilities at Polygon include risk management, overseeing Polygon's non-trading activities, managing investment bank interfaces and relationships and new business development.

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Reade Griffith

Principal of Tetragon Financial Management LP
Director of Tetragon Financial Group Limited and Tetragon Financial Group Master Fund Limited

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Mr. Griffith co-founded Polygon in 2002 and Tetragon Financial Management LP in 2005. He was previously the founder and former chief executive officer of the European office of Citadel Investment Group, a multi-strategy hedge fund that he joined in 1998. He was a partner and senior managing director responsible for running the Global Event Driven arbitrage team in Tokyo, London and Chicago for the firm. He was previously with Baker, Nye, where he was an analyst working on an arbitrage and special situations portfolio. Mr. Griffith holds a JD degree from Harvard Law School and an undergraduate degree in Economics from Harvard College. He also served as an officer in the U.S. Marine Corps and left as a Captain following the 1991 Gulf War. At Polygon, he is primarily focused on the trading businesses and risk management.

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Jeff Herlyn

Principal of Tetragon Financial Management LP

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Mr. Herlyn joined Tetragon Financial Management LP as a principal upon its formation in May 2005. Prior to that, he was a managing director and co-head (with Michael Rosenberg) of the Global CDO Group at UBS AG, responsible for a group focused on structuring, originating and distributing CDOs in addition to managing the secondary CDO trading desk. Prior to joining UBS, he was a managing director at JPMorgan and a co-head (also with Mr. Rosenberg) of the firm’s North American CDO Group. Previously, Mr. Herlyn was a managing director at CIBC World Markets where he held various positions within the North American Capital Markets Group, including National Sales Manager and head of the U.S. Government Primary Dealer Trading Desk. He also served on the firm’s benefits and compliance committees. Prior to joining CIBC, Mr. Herlyn was a Fixed Income sales person at Chase Securities and Manufacturers Hanover Securities Corp. Before joining the Manufacturers Fixed Income Sales Group, he was a Corporate Lending Officer for Manufacturers Hanover Trust Co. responsible for Large and Middle Market Lending. Mr. Herlyn holds an MBA from Fordham University and a Bachelor in Administration from St. Lawrence University.

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Michael Rosenberg

Principal of Tetragon Financial Management LP

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Mr. Rosenberg joined Tetragon Financial Management LP as a principal upon its formation in May 2005. Prior to that, he was a managing director and co-head (with Jeff Herlyn) of the Global CDO Group at UBS AG, responsible for a group focused on structuring, originating and distributing CDOs in addition to managing the secondary CDO trading desk. Prior to joining UBS, he was a managing director at JPMorgan and a co-head (also with Mr. Herlyn) of the firm’s North American CDO Group. Prior to working in investment banking, Mr. Rosenberg worked in the mortgage banking industry both in the United States and internationally. He helped start the first private mortgage bank in Poland and worked with various private and public institutions in the development of a mortgage banking market in the former Soviet Union. Mr. Rosenberg holds an MBA degree from George Washington University and an undergraduate degree in Finance from the University of Delaware.

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David Wishnow

Principal of Tetragon Financial Management LP

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Mr. Wishnow joined Tetragon Financial Management LP as a principal upon its formation in May 2005. Prior to that, he was a managing director and head of European and Asian Hedge Company Client Management for the Fixed Income, Rates and Currency (FIRC) division at UBS AG in London. Mr. Wishnow chaired FIRC's Global Hedge Fund Committee, was co-chairman of the European Distribution Committee and a member of the European Management Committee. Prior to these positions, he was European co-head of UBS's Banks/Insurance Credit Fixed Income Sales and global head of Short Duration Sales, responsible for the distribution of financing, money market and short-term fixed income products. Previously, Mr. Wishnow served as global head of Fixed Income Collateral Trading/Financing in London, global head of Money Markets and Repurchase Transactions in New York and was treasurer and head of trading for UBS (Canada) in Toronto. Prior to joining UBS, he was head of Short Date Derivatives for Midland Montagu. Mr. Wishnow holds an undergraduate degree in Business Administration with a concentration in Finance from the University of Vermont.

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Independent Directors

Rupert Dorey

Independent Director

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Mr. Dorey, who is based in Guernsey, has over 23 years of experience in debt capital markets, specializing in credit-related products, including derivative instruments. Mr. Dorey’s expertise is principally in the areas of debt distribution, origination and trading, covering all types of debt from investment grade to high yield and distressed debt. Mr. Dorey currently acts as a director on a number of hedge funds, fund of hedge funds and private equity funds. He was at Credit Suisse (and its predecessor firms) for 17 years from 1988 until 2006 and from 2000 until he left Credit Suisse, he was head of sterling credit sales. Previously, Mr. Dorey held a number of positions at Credit Suisse, including establishing Credit Suisse’s high yield debt distribution business in Europe, fixed income credit product coordinator for European offices and head of UK Credit and Rates Sales.

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David Jeffreys

Independent Director

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Mr. Jeffreys, who is based in Guernsey, provides directorship services to a small number of fund groups. From 1993 until June 2004, Mr. Jeffreys was managing director of Abacus Fund Managers (Guernsey) Limited, where he was involved with private client trust arrangements, corporate administration, pension schemes and fund administration. He was a board member of Abacus’ principal administration operating companies and served on the boards of various administrated client companies. Previously, Mr. Jeffreys worked as an auditor and accountant for 12 years with Coopers & Lybrand (and its predecessor firms). He has an undergraduate degree in Economics and Accounting from the University of Bristol and is a fellow of the Institute of Chartered Accountants in England and Wales.

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Byron Knief

Independent Director

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Mr. Knief is Managing Director of Court Square Capital Advisor, LLC. Since 1989, he has raised and invested over $3 billion of capital through a series of mezzanine and leveraged debt funds. Prior to 1989, he ran a variety of businesses for Citigroup in the United States, Europe, Canada and Latin America. Mr. Knief received an undergraduate degree from Northwestern University and an MBA from Columbia University. He has served as a director on the boards of several public and private companies. Current corporate board memberships include DavCo Restaurants, Inc., JAC Products, Inc. and Olameter, Inc. He was also formerly a director of Polygon Global Opportunities Fund and certain of its affiliates. Mr. Knief’s charitable board memberships include The Milbank Memorial Fund and The Mountain Top Arboretum.

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Greville V.B. Ward

Independent Director

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Mr. Ward is currently working with Fundsmith LLP, a London based management company, where he focuses on marketing and client relationships in the United Kingdom and United States. He is a former Managing Director and one of the Founders of Collins Stewart Inc. Before Collins Stewart, he was part of a team recruited by Bankers Trust to revamp their European Equity Sales desk in New York. He also set up the European and EMEA desk at Robert Fleming Inc. Prior to that, he worked at Barclays DeZoete Wedd in New York. Before moving to New York in 1988, Mr. Ward worked in London for Savory Milln. He started his career in 1983 with Laurie Millbank where he became a member of the London Stock Exchange. His board memberships include the Tim Taylor Gallery in London and Lancaster Investment Management in Ireland. He was also formerly a director of Polygon Global Opportunities Fund and certain of its affiliates.

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Each of the Principals is an indirect equity holder of the Investment Manager.

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